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LITE

Lumentum Holdings Inc.Close $680.16EOD only
Max Pain
$750.00
Next expiry Nov 6, 2026
Expected Move
±$25.55
3.8% from close
Price Gap
+69.84
Distance to max pain
IV Rank
5
Low premium
P/C OI
1.29
Slightly put-heavy
Consensus
4.0/10
Bullish tilt
Published snapshot: Nov 3, 2026 close
End-of-day snapshot

This page reflects LITE options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot
Nov 3, 2026 close
LITE Theta Report
Analysis based on market close June 15, 2026
DirectionalTheta GangFlowEarningsConsensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

You are viewing an older report from June 15, 2026. A newer theta report is available for June 26, 2026.

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Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Short Put Spreads
Invalidation: Break below $900 or above $1000
Confidence:
4 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 19.7% from MP; +1 VIX 16

IV Environment

IV Regime
High
IV vs VIX
IV (105%) far above VIX (16.2), event premium.
Favorable?
Yes

Term structure: Front-end elevated, dips mid-term, rises long-term.

📊Put IVs exceed calls across most terms, bearish hedging.
📈Front-end IV elevated before expiration, event risk.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+1.8M)

Gamma flip: ~$800.00 — Approx — based on put OI concentration of 6,305 (16.4% below spot)

OI concentrations: Put floor $600-$900, max pain $800 6/18, $880 6/26, $950 7/2. High put OI 16.4% below spot.

Verdict: Pinning risk elevated; spot may drift toward $800-$880 OI.

Premium Opportunities

#1
Put credit spread
Sell 2026-07-17 $860.00/$740.00 put spread
Cash-secured put credit spread exploiting elevated IV ahead of earnings.
Credit: $30.82-$37.68
Max loss: $82.32
BE: $822.32
Mgmt: Monitor position; exit if LITE breaks below $900 or above $1000.

Risk Alerts

!High IV collapse post-event
!Gamma flip near $800
!Mixed flow reversal
How to Use These Reports
This theta reflects the market close on June 15, 2026.
What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.